Bank repossessions for sale in Mallorca

Balearic Properties is your ultimate estate agency with +100 repossessed properties currently for sale in Majorca. Many buyers started to check the real estate market offered by the Spanish Banks since the crisis of 2008. If you remember the Bad Bank in Spain, when the Spanish government helped to clean the situation arising from the crisis, by taking on the assets for which the mortgage was worth more than the property value.

Bank Repossessions

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  • Mallorca
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Where can you find bank properties?

Check our our page below, and ask our team of estate agents in Mallorca, since many of these properties can't be published on the web, repossessed owners grant us access to some of the properties before going into auction

Repossessed Villas in Mallorca

Believe it or not, many bank repossessions are actually beautiful villas. Finding a bank repossessed villa is as simple as contacting our professional estate agents who will guide you through the various property bargains currently on offer. Since Balearic Properties has been dealing with properties in Mallorca since 1999, we have gained a reputation for having great partners, including some of the leading financial institutions. Discover sensationally priced and repossessed property.

Buyers will have much to discover when it comes to bank repossessions for sale in Mallorca. These properties are for sale at reduced prices, sometimes even below market value. Everyone loves to find property bargains, especially when it means you can find dream villas, sea view apartments, or exciting plots with construction projects at affordable prices. Mallorca is a wonderful real estate market with a range of distressed property for sale by local and international banks.

When is the right time to buy a bank repossession in Mallorca

As bank repossessions are are sometimes for sale for very limited period to time and sales go via court adjudications, please get in touch with us about your specific requirements, so we can update you if possibilities come available.

In these cases we would act as your real estate broker and a commission would needed to be paid by you to us for our intermediation and dedication to this matter.

Never the less the process is not as straight forward for buyers, as the access to these properties often is not possible, so it could be considered as a risk purchase, as you would only see the location, but not the actual inside of the properties, and you have no guarantee even if properties might be occupied by somebody at the moment of acquisition.

The process to buy a repossessed property via court in general takes much longer than a normal property purchase.

So it has to be said that most owners, knowing that they will lose the property ownership sometime in the future, are in touch with us as brokers in time to reduce their prices accordingly to the market requests for a “ still in time “ sale!

Please have a look at the property list below, these properties are not repossessed properties, but considered by us as “ very well priced “ and interesting investment opportunities.

Bank repossessions & opportunities for sale in Mallorca

Don’t think that these are run-down or shabby properties. The bank repossessions in Mallorca often include villas, fincas, townhouses, and large plots of land which simply went through an unfortunate bank foreclosure. Hence, you can come across some exciting property opportunities that are priced to sell fast. Bank properties for sale in Mallorca are blameless for their stigmatised status. In fact, they were all once someone’s dream property which deserve another chance.

Some repossessed properties in Mallorca were simply left behind unfinished. However, someone’s loss can now be your gain, with many bank repossessions including plots for sale with semi-finished constructions. This is actually one of the best property investment scenarios, since you can buy cheap property in Mallorca and add your own taste to the finishing touches. Balearic Properties can also advise you if you’re thinking of building or renovating property in Mallorca.

Bank repossessed apartments for sale in Mallorca 

Many bank repossessions include apartments for sale in Mallorca. The stories of these bargain properties vary. Sometimes the previous owners simply bought a holiday home in Mallorca, which they could no longer afford which led to a bank foreclosure. Regardless of how these apartments for sale in Mallorca became bank repossessions, they’re still dream properties. You never know what you’re going to find when it comes to bank repossessed properties.

Bargain real estate opportunities

Bank repossessions can also include properties over 1 million euros. So, maybe you’ll even find great rental investments and sea view villas for much less than the market value. With a little imagination and the help of our partners you’ll be able to create your dream luxury home in Mallorca for a fraction of the cost. Discover repossessed villas by the sea in sought-after coastal areas including Alcudia and Puerto Pollensa in the north of Mallorca.

Distressed property 

You can find distressed properties and bank repossessions in Mallorca all over the island. There’s really no special area in Mallorca that’s famous for bank repossessions. For example, you can find distressed property for sale in Pollensa and Palma, where you also have some of the most expensive properties in Mallorca. If you’re looking for a real estate bargain, then simply get in touch with our offices and we will gladly inform you of all the unique real estate opportunities available.

We have a wide array of villas and apartments that are bank repossessions or opportunities for sale at extremely reduced prices. We can introduce you to these properties where owners are keen to sell and ensure you make the most of this unique opportunity to purchase a bank repossessed villa or apartment at the best possible price and we will negotiate best conditions on your behalf.

Balearic Properties has excellent relationships with local banks in all areas of the island. Our experts are completely up-to-date with regards to properties that are Bank Repossessions. Do not hesitate to contact us for precise information and advice with regards to the purchase procedure.

Banks we work with :

Sources for Bank repossessions in Mallorca

Banks with the most repossessed property for sale:

Altamirainmuebles: Owned by Banco Santander, one of the main players in Spain
Servihabitat:  La Caixa is the leading retail bank in Spain, with the largest customer base of all the spanish banks
Bankia :  Bankia is a Spanish bank based in Valencia and Madrid, founded on December 3, 2010 in the process of restructuring the financial system in Spain .

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